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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows used in operating activities:    
Net Income (Loss) $ (36,184) $ (116,537)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on lease termination (10)  
Amortization of operating lease right-of-use asset 359 374
Accretion on investment discounts (2,799) (1,203)
Stock-based compensation 13,122 6,545
Change in fair value of warrant liabilities and fair value of financial instruments issued in excess of proceeds (30,900) 76,211
Deferred tax provision 431  
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,298 (1,954)
Accounts payable, accrued expenses and other liabilities 7,751 (2,600)
Operating lease liabilities (339) (363)
Net cash used in operating activities (47,271) (39,527)
Cash flows from investing activities:    
Purchase of available-for-sale short-term investments (156,131) (78,287)
Proceeds from maturities of available-for-sale short-term investments 85,817 33,000
Net cash used in investing activities (70,314) (45,287)
Cash flows from financing activities:    
Proceeds from issuances of common stock and pre-funded warrants, net 133,307 33,017
Proceeds from exercise of stock options 215  
Net cash provided by financing activities 133,522 33,017
Net change in cash and cash equivalents 15,937 (51,797)
Cash and cash equivalents at beginning of year 4,612 56,409
Cash and cash equivalents at end of year 20,549 4,612
Non-cash activities:    
Common stock exchanged for X and X1 non-voting convertible preferred stock   $ 1
Unrealized gain on available-for-sale securities 26  
Increase in operating right-of-use lease asset and liability due to new lease 920  
Settlement of warrant liability into common stock due to exercise $ 446